Cirio acting for OX2 when divesting 455.4MW wind farm in Finland

Cirio has advised OX2 in the EUR 650 million sale of the 455.4MW Lestijärvi greenfield wind farm to a consortium of Finnish energy companies (Kymppivoima Oy (65%), Oulun Energia (25%) and Kuopion Energia (10%). The wind farm is located in Lestijärvi, Finland. The deal includes that OX2 will build the wind farm which, when completed, will be the largest ever in Finland and among the largest onshore wind farms in Europe as of 2021. The transaction also includes, and Cirio has advised, in the construction of a significant grid infrastructure to connect the wind farm, including substations and a 58 kilometers 400 kV transmission line to the national grid.

The wind farm comprises 69 turbines and will have an estimated yearly output of about 1.3 TWh, which corresponds to about two per cent of the total annual electricity production in Finland. The wind farm is scheduled to be completed early 2025.

Cirio’s team has comprised of Jörgen Möller, Fredrik Morfeldt, Maria Hanbo, Erik Engström, Christoffer Isaksson, Ina Laurell and Niklas Sinander.

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